Ethereum is currently fortifying at a point which is profitable for the bulls. Will there be a turn to decline?

Will the bears hold the advantage?

The fact that Ethereum has fortified at the level of $8.5 signifies that the bulls are holding the advantage. The $8.5 price is profitable for the bulls, but the graph clearly shows that the buyers are not taking advantage of that profit at the moment.

Ethereum price chart

If this keeps up and a downward turn forms, the most probable scenario will be that of the medium-term trend heading down. If, however, the bulls do manage to make use of their advantage, there will be no turn and the upward trend will continue.

A formation of a downward structure at the level of $8.5 can lead to the beginning of a medium-term trend of decline.